9911 N Cincinnati Columbus Rd

Spring Valley, OH 45068

$234,900D+

2 bd · 2.0 ba · 2,078 sqft · Built 1900 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,660/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $-113/mo
• Annual: $-1,353/yr
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• 1% rule: 0.71%
• Cash to close: $65,772

Investor read

• This is a 2-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (29.3% below list).
• It's been on market 50 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (29.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#741 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Wayne Local (suburban): math 77% / reading 76% proficiency, ranked #72 of 656 in OH (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Waynesville Elementary School (math 78% / reading 70%, grade A, #301 of 1,584 statewide, top 20%, 906 students, 9% FRL); Waynesville Middle School (math 80% / reading 82%, grade A+, #38 of 654 statewide, top 6%, 246 students, 0% FRL); Waynesville High School (math 67% / reading 77%, grade B+, #89 of 781 statewide, top 12%, 465 students, 17% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 120 active listings in the ZIP; solid renter incomes; 1,224 units permitted in Warren County in 2024 (474 in 5+ unit buildings).
• Warren County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 11y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $235k implies a 68% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.